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| | | ... Young Australians are missing out on higher superannuation returns by parking their retirement savings in default MySuper products, instead of exploring other investment options. Analysis of APRA data by Innova Asset Management revealed that an all-equities ... |
| | | | ... our members." Using data from last financial year, Rainmaker Information estimates the average fees for default MySuper products sits at 1%. Since 2011 and 2021, super fund fees dropped by a quarter, with about half of the reductions seen between 2018 ... |
| | | | ... fallen by a quarter, with about half of the action taking place in the last three years alone. Six in 10 default MySuper products reduced fees in 2020/21, with fees now averaging 1% overall. The average default MySuper product now charges 1.08%, down ... |
| | | | ... figures) of the APRA-regulated superannuation sector. They are typically more complex and varied than default MySuper products, making comparisons more challenging, Cole said. "The new Choice Product Heatmap will make clear which trustees have underperforming ... |
| | | | ... fallen by a quarter, with about half of the action taking place in the last three years alone. Six in 10 default MySuper products reduced fees in 2020/21, with fees now averaging 1% overall. The average default MySuper product now charges 1.08%, down ... |
| | | | ... there's real risk that pressure could grow for the regulator to prohibit them from being offered as default MySuper products." |
| | | | ... indexes represents almost half of all superannuation assets." The report also revealed that one-third of default MySuper products are tracking below their investment objectives. The report compared super fund asset class sector average returns, across ... |
| | | | ... superannuation open to claims it's a product designed only for old people," the report read. "In 2020, default MySuper products charged on average 0.15% p.a. for administration, 0.8% p.a. for investment management and $78 p.a. for member account-keeping." ... |
| | | | ... many in the industry. But, Hume insisted reform was necessary - especially to enhance the performance of default MySuper products. "There are over 90 MySuper products, which are supposed to be the most basic that people get defaulted into," Hume said. ... |
| | | | Default MySuper products delivered negative returns in the 2019/2020 financial year, but the results weren't as bad as they could have been. According to the Rainmaker MySuper investment performance index, MySuper products delivered an average return ... |
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